Not recession proof, but I think you will find most financial adviser's phone rings more in tough times and market downturns.
When markets are good, clients are happy, they aren't contacting their adviser to make changes.
When they turn is when clients get nervous and seek advice, such as more defensive investments, and feel they should be changing something!
More advice required in a downturn, equals more IAM revenue.
Impending Property Bubble - Boom for IAM?, page-4
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